investing

This is a good interview with Kyle Bass because it cuts to the heart of the matter. If you are a partisan in the Bass debate on Japan, you can see him as being either correct or incorrect. Now, I have covered this before and I have stressed…

In the short term, though, a continuation of the currently lax monetary policy is likely to lead to higher assets prices. The investor mindset is very much in risk-on mode at the moment, as documented by the surprisingly calm reaction to…

By Edward Hugh According to the Economist’s Buttonwood, “desperate times require desperate measures”. I am sure this is right, times in Spain are certainly getting desperate and many of the measures being implemented in Brussels, far from…

It's only fitting that I write something today on Europe's multiples since I wrote yesterday on P/E multiples in the US. What prompted this were two different articles.

After I released my daily commentary a few weeks ago about S&P500 earnings, wages and multiple expansion, there has been a lot of talk about multiple expansion in the media. I think this talk is warranted because this is the crux of the…

Why does the federal government need to balance its books? Where does the money come from that the government spends? Whose income gets cut when spending gets cut? These are a few of the questions we should be asking when thinking about…

A lot is being made of the new high that was recorded by the Dow Jones Industrial Average yesterday. However, in the context of still weak income growth and lacklustre economic growth, the new Dow highs are not as widely celebrated as the…

The seemingly never-ending debate on passive vs. active investment management is beginning to annoy me. The discussion is one-dimensional and, at times, completely derailed. I shall be the first to admit that the long-only industry has not…

Bill Gross' latest investment outlook is up at PIMCO and he echoes the theme everyone is now talking about - irrational exuberance. He goes into great depth, saying that we are at about 6 on a scale of one to ten when measuring asset price…

An investment in Microsoft has been dead money for quite a while now. The stock has traded in a pretty narrow range between $22 and $32 except in late 2007 and 2008 during the financial crisis when it spiked and then plunged. The stock does…